Imperialism in the Era of Globalization

Utsa Patnaik, Prabhat Patnaik
2015 Monthly review  
Capitalism is preeminently a money-using system where a large part of wealth is held either in the form of money or as money-denominated assets, namely financial assets. For the system to work, it is essential that the value of money should not keep declining against commodities; otherwise people would move away from holding money, and it would cease to be not just a form of wealth, but even a medium of circulation.… Hence, capitalism seeks to ensure the stability of the value of money
more » ... a number of ways. One is the maintenance of a vast reserve army of labor, not just within the metropolis but also in the third world.<p class="mrlink"><p class="mrpurchaselink"><a href="http://monthlyreview.org/index/volume-67-number-3" title="Vol. 67, No. 3: July 2015" target="_self">Click here to purchase a PDF version of this article at the Monthly Review website.</a></p>
doi:10.14452/mr-067-03-2015-07_5 fatcat:5fellrwgqbgelkr4whbdug7ala